SLX - Why Rio Tinto Shares Are Diving Today? | Benzinga
Rio Tinto Group (NYSE:RIO) shares are trading lower today after the company disclosed second-quarter production results.
The company reported production of 79.5 million tonnes (67.5 million tonnes for Rio Tinto), a decrease of 2% Y/Y, attributed to a mid-May train collision that disrupted rail capacity for about six days and led to full stockpiles at some mines.
Bauxite production increased to 14.7 million tonnes, up 9% from last year, driven by improved utilization and feed rates at Weipa, aligning with the company’s full-year guidance to the ...